New builds come with more extras

Developers attract clients with swimming pools, saunas and gyms

The more choices buyers have the more resources and efforts are required from sellers to prove that the properties are worth it. This is hardly a difficult task to accomplish when asking prices are in the range of 600-700 euros, which could still be found in larger Bulgarian cities. But as they exceed 1,500 euro per sq m, each detail, advantage or disadvantage of the location becomes vital.
Spa is one of the extras, which has lately become a must for every project targeting well-off clients. They are found in two developments on Cherni Vrah Blvd., just above the popular among wealthy people area of Lozenets in Sofia.
Asking prices of the first of them, a 9-story residential building, start at slightly over 200,000 euros for a 100-sq-m, 2-bedroom apartment with the shares of the common areas. Parking spaces are paid separately - a single costs slightly less than 15,000 and a double one - almost 20,000 euros. A 208-sq-m, 3-bedroom top-floor unit with 150-sq-m terrace costs more than 540,000 euros.
The building will have door-keeper, lobby and lobby bar and, of course, a SPA center with swimming pool, Jacuzzi, sauna and steam bath.
A similar project, which consists of more than 140 flats, will be completed in several months. A 2-bedroom apartment located on the fifth (top) floor is sold for 178,000 euros. Its area is 107-sq m. A large swimming pool, spa, gym and private underground parking are among the extras of the development.
One of the project’s most expensive residences is a 144-sq m, 4-bedroom apartment located on the 5th floor, priced more than 263,000 euros.
Similar prices for units of the like can be found in the city of Varna too. A 172-sq m, 4-bedroom top-floor apartment costs almost 277,000 euros. It is located in Varna’s suburban area Trakata and boasts vast green areas, an artificial lake, sports playground, and open-air kindergarten, swimming pool, fitness and saunas. A 117- sq m, 2-bedroom property located on the third floor costs about 176,000 euros.
The above-mentioned offers define the prices of new luxury residential units in prestigious but remote regions in the range between 1,500 and 2,000 euro per sq m. But these levels are lower than those in top locations. For example, in Sofia’s prime neighborhood Iztok a building without any additional extras is for sale for 2,400-2,500 euros per sq m. A 202- sq m, two-bedroom furnished apartment with study-room located near the South Park in Lozenets costs 526,000 euros.
A furnished 122- sq m third floor apartment in the area of the Sea Garden in Varna is sold for almost 3,000 euro per sq m. New builds are also found in Druzhba neighborhood, close to the sports hall. Apartment prices there start from 1,700 euros per sq m. This project also boasts a spa with indoor pool as well as shops and bars on the ground floors. Projects of similar standard are still difficult to find in the rest of larger cities. So rather locations and, to some extent furnishing and finishing than additional extras continue to play key roles in property pricing.